Houston multifamily complex sells to investor

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Grubb & Ellis Co. represented Bayfront National Associates LP in the recent sale of Bayfront Apartments, a 200-unit apartment complex in Houston, Texas. The value of the transaction was not disclosed. The 13-building complex, featuring one- to three-bedroom apartments, is located at 11710 Algonquin in the city's southeast section. It was 92 percent occupied at the time of sale and sits on approximately 7.7 acres. Emery Jakab, a private investor, purchased the property. Grubb & Ellis Co. provides full-service commercial real estate services worldwide....